UCL Retail Limited 05237077 false 2022-07-01 2023-06-30 2023-06-30 The principal activity of the company is retail sale of refractory articles Digita Accounts Production Advanced 6.30.9574.0 true 05237077 2022-07-01 2023-06-30 05237077 2023-06-30 05237077 bus:CompanySecretaryDirector1 1 2023-06-30 05237077 bus:CompanySecretaryDirector1 2 2023-06-30 05237077 bus:OrdinaryShareClass1 bus:OtherShareType 2023-06-30 05237077 core:RetainedEarningsAccumulatedLosses 2023-06-30 05237077 core:ShareCapital 2023-06-30 05237077 core:CurrentFinancialInstruments 2023-06-30 05237077 core:CurrentFinancialInstruments core:WithinOneYear 2023-06-30 05237077 core:Non-currentFinancialInstruments 2023-06-30 05237077 core:Non-currentFinancialInstruments core:AfterOneYear 2023-06-30 05237077 core:FurnitureFittingsToolsEquipment 2023-06-30 05237077 core:MotorVehicles 2023-06-30 05237077 core:OtherPropertyPlantEquipment 2023-06-30 05237077 bus:SmallEntities 2022-07-01 2023-06-30 05237077 bus:AuditExemptWithAccountantsReport 2022-07-01 2023-06-30 05237077 bus:FullAccounts 2022-07-01 2023-06-30 05237077 bus:SmallCompaniesRegimeForAccounts 2022-07-01 2023-06-30 05237077 bus:RegisteredOffice 2022-07-01 2023-06-30 05237077 bus:CompanySecretaryDirector1 2022-07-01 2023-06-30 05237077 bus:CompanySecretaryDirector1 1 2022-07-01 2023-06-30 05237077 bus:CompanySecretaryDirector1 2 2022-07-01 2023-06-30 05237077 bus:Director2 2022-07-01 2023-06-30 05237077 bus:OrdinaryShareClass1 bus:OtherShareType 2022-07-01 2023-06-30 05237077 bus:PrivateLimitedCompanyLtd 2022-07-01 2023-06-30 05237077 core:ComputerEquipment 2022-07-01 2023-06-30 05237077 core:FurnitureFittings 2022-07-01 2023-06-30 05237077 core:FurnitureFittingsToolsEquipment 2022-07-01 2023-06-30 05237077 core:MotorVehicles 2022-07-01 2023-06-30 05237077 core:OtherPropertyPlantEquipment 2022-07-01 2023-06-30 05237077 core:PlantMachinery 2022-07-01 2023-06-30 05237077 countries:England 2022-07-01 2023-06-30 05237077 2022-06-30 05237077 bus:CompanySecretaryDirector1 1 2022-06-30 05237077 bus:CompanySecretaryDirector1 2 2022-06-30 05237077 core:FurnitureFittingsToolsEquipment 2022-06-30 05237077 core:MotorVehicles 2022-06-30 05237077 core:OtherPropertyPlantEquipment 2022-06-30 05237077 2021-07-01 2022-06-30 05237077 2022-06-30 05237077 bus:OrdinaryShareClass1 bus:OtherShareType 2022-06-30 05237077 core:RetainedEarningsAccumulatedLosses 2022-06-30 05237077 core:ShareCapital 2022-06-30 05237077 core:CurrentFinancialInstruments 2022-06-30 05237077 core:CurrentFinancialInstruments core:WithinOneYear 2022-06-30 05237077 core:Non-currentFinancialInstruments 2022-06-30 05237077 core:Non-currentFinancialInstruments core:AfterOneYear 2022-06-30 05237077 core:FurnitureFittingsToolsEquipment 2022-06-30 05237077 core:MotorVehicles 2022-06-30 05237077 core:OtherPropertyPlantEquipment 2022-06-30 05237077 1 2022-06-30 05237077 1 2021-07-01 2022-06-30 05237077 1 2021-06-30 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 05237077

UCL Retail Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 June 2023

 

UCL Retail Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

UCL Retail Limited

Company Information

Directors

Mr M Yates

Mrs Teresa Yates

Company secretary

Mr M Yates

Registered office

Edensor Works
Greendock Street
Longton
Stoke On Trent
Staffordshire
ST3 2NA

Accountants

Winton Bath Group Limited
Chartered Accountants
First Floor
6 Ferranti Court
Staffordshire Technology Park
Stafford
Staffordshire
ST18 0LQ

 

UCL Retail Limited

(Registration number: 05237077)
Balance Sheet as at 30 June 2023

Note

2023
£

2022
£

Fiixed assets

 

Tangible assets

4

8,593

2,959

Current assets

 

Stocks

5

10,000

8,000

Debtors

6

7,122

12,978

Cash at bank and in hand

 

1,384

1,004

 

18,506

21,982

Creditors: Amounts falling due within one year

7

(16,321)

(13,337)

Net current assets

 

2,185

8,645

Total assets less current liabilities

 

10,778

11,604

Creditors: Amounts falling due after more than one year

7

(7,420)

(9,250)

Provisions for liabilities

(349)

(562)

Net assets

 

3,009

1,792

Capital and reserves

 

Called up share capital

8

100

100

Retained earnings

2,909

1,692

Shareholders' funds

 

3,009

1,792

For the financial year ending 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

 

UCL Retail Limited

(Registration number: 05237077)
Balance Sheet as at 30 June 2023

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

Approved and authorised by the Board on 20 March 2024 and signed on its behalf by:
 

.........................................
Mr M Yates
Company secretary and director

 

UCL Retail Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Edensor Works
Greendock Street
Longton
Stoke On Trent
Staffordshire
ST3 2NA

These financial statements were authorised for issue by the Board on 20 March 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

UCL Retail Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

15% on cost

Fixtures and fittings

15% on cost

Motor vehicles

25% on cost

Computer equipment

33% on cost

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

UCL Retail Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. The share capital disclosed on the balance sheet is allotted, called up and fully paid.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

 

UCL Retail Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 July 2022

10,682

-

12,784

23,466

Additions

273

8,441

-

8,714

At 30 June 2023

10,955

8,441

12,784

32,180

Depreciation

At 1 July 2022

8,490

-

12,017

20,507

Charge for the year

1,056

1,688

336

3,080

At 30 June 2023

9,546

1,688

12,353

23,587

Carrying amount

At 30 June 2023

1,409

6,753

431

8,593

At 30 June 2022

2,192

-

767

2,959

5

Stocks

2023
£

2022
£

Other inventories

10,000

8,000

6

Debtors

Current

2023
£

2022
£

Trade debtors

2,227

8,777

Other debtors

4,895

4,201

 

7,122

12,978

 

UCL Retail Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

9

3,000

3,000

Trade creditors

 

4,668

5,251

Taxation and social security

 

2,693

3,999

Accruals and deferred income

 

5,925

1,087

Other creditors

 

35

-

 

16,321

13,337

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

9

7,420

9,250

8

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary of £1 each

100

100

100

100

         

9

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

7,420

9,250

2023
£

2022
£

Current loans and borrowings

Bank borrowings

3,000

3,000

 

UCL Retail Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

10

Related party transactions

Transactions with directors

During the year an interest free loan was made to a director, Mr M Yates, as follows:

2023

At 1 July 2022
£

Advances to director
£

Repayments by director
£

At 30 June 2023
£

Mr M Yates

Directors loan account

(305)

(11,153)

11,495

36

-

-

-

-

 

(305)

(11,153)

11,495

36

       

 

2022

At 1 July 2021
£

Advances to director
£

Repayments by director
£

At 30 June 2022
£

Directors loan account

(1,994)

(6,511)

8,200

(305)

 

(1,994)

(6,511)

8,200

(305)